Azerbaijan’s State Oil Fund to chair IFSWF next year

Azerbaijan’s State Oil Fund (SOFAZ) will chair the International Forum of Sovereign Wealth Funds (IFSWF) next year, Vesti.az reported.

SOFAZ Executive Director Israfil Mammadov currently serves as deputy chair of the organization and is expected to assume the chairmanship in 2027.

The IFSWF is a global platform bringing together sovereign wealth funds to promote cooperation, transparency and long-term investment practices.

SOFAZ hosted the 14th annual meeting of the forum in Baku in 2022, strengthening Azerbaijan’s role within the international sovereign wealth fund community.

SOFAZ, established in 1999, manages Azerbaijan’s oil and gas revenues and invests in international assets across multiple sectors and regions.